Loom, Inc.
2023
$975M
Why
Atlassian acquired Loom to add asynchronous video communication capabilities to the platform, supporting the company's vision of reducing context switching and meetings through integrated communication tools. Loom allowed users to record and share video messages, complementing the text-based collaboration in Jira and Confluence.
Impact
Loom was the largest acquisition in Atlassian's history, adding video messaging capabilities and a large user base to the platform. The integration aimed to create a comprehensive collaboration ecosystem spanning text, video, and project management.
Outcome
Loom contributes approximately 3% of total revenue and is being integrated into the Atlassian System of Work, though the $975 million price tag has been questioned given the competitive landscape in video messaging.